Company News: 3M (MMM) quarterly results beat analysts’ expectations

Market news

28 April 2020

Company News: 3M (MMM) quarterly results beat analysts’ expectations

3M (MMM) reported Q1 FY 2020 earnings of $2.16 per share (versus $2.23 per share in Q1 FY 2019), beating analysts' consensus estimate of $2.01 per share.

The company's quarterly revenues amounted to $8.075 bln (+2.7% y/y), beating analysts' consensus estimate of $7.855 bln.

The company also withdrew its previously announced FY 2020 outlook, which was provided in January, as it "currently is not able to estimate the full duration, magnitude and pace of recovery across its diverse end markets with reasonable accuracy" due to "the evolving and uncertain impact of the COVID-19 pandemic".

MMM rose to $159.50 (+3.81 %) in pre-market trading.

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